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Study by Wipro and Retail Info Systems reveals retailers investing in new technology solutions to succeed with today's consumers
[January 14, 2020]

Study by Wipro and Retail Info Systems reveals retailers investing in new technology solutions to succeed with today's consumers


NEW YORK, Jan. 14, 2020 /PRNewswire/ -- Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, in collaboration with US-based retail magazine, Retail Info Systems (RIS) developed a report titled,'Smart Store Strategies for Digitally Savvy, Time-Crunched Shoppers'.  The study, based on a poll conducted with senior executives from national and large regional retail organisations, reveals how retailers need to combine human and technology best practices to create "store-of-the-future" strategies. It also highlights technology investments necessary to ensure financial success.

Wipro Logo (PRNewsfoto/Wipro Limited)

This conversation on best practices for technology deployment comes at a crucial time for retailers, as brick-and-mortar locations face increasing pressure to compete with consumers' ecommerce options. Wipro and RIS found that an overwhelming number of retailers are planning to stay competitive in the future by investing in new technology solutions such as digital signage, new mobile applications, and AI-driven customer service and support for enhanced consumer experiences called store-of-the-future.

The study finds that retailers are looking for guidance on improving implementation of strategies and ensuring their investments become profitable. Some of Wipro's and RIS's additional observations on how retailers are creating store-of-the-future strategies include:

  • 81% of retailers say it's important to adopt a smart, store-of-the-future strategy to succeed with today's consumers. 88% also say that store associates play a big role in those strategies.
  • Most retailers want to improve their methods and best practices, as many respondents rated their performance in implementing store-of-the-future strategies as middling, scoring themselves just 5.5 on a scale of 10.
  • Retailers identify three high-level consumer strategies that rise far above the rest: service (88% said yes), convenience (73%), and value (67%).
  • Retailers believe the most important customer-facing technologies are click and collect (85%), proximity or location engagement in stores (64%), ad buy online and return in store (55%).
  • New shopper-facing technologies retailers plan to invest in include new payment options (62%), interactive digital signage (47%), and click-and-collect (44%).
  • Advanced back-office technologies are also important. Retailers plan to invest in technologies such as advanced order management (79%), mobile apps for store staff (70%), personalized marketing capabilities (61%), in-store mobile devices (58%), and AI-driven customer service and support (28%).



"Wipro's work with its retail partners to build smart stores-of-the-future is based on the five pillars of seamless experiences, human-centric, intelligence, future-ready, trusted and safe -- the SHIFT principle -- to build innovative solutions," said Deviprasad Rambhatla, Senior Vice President and Global Head – Retail Distribution and Transportation (RDAT), Wipro Limited. "These guiding principles will help our teams improve financial results for retailers as well as enhance the experiences for their customers and store associates," he said.

To access the full report, please click here.


About Wipro Limited
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading global information technology, consulting and business process services company. We harness the power of cognitive computing, hyper-automation, robotics, cloud, analytics and emerging technologies to help our clients adapt to the digital world and make them successful. A company recognized globally for its comprehensive portfolio of services, strong commitment to sustainability and good corporate citizenship, we have over 175,000 dedicated employees serving clients across six continents. Together, we discover ideas and connect the dots to build a better and a bold new future.

Media Contacts:
Shraboni Banerjee
Wipro Limited
shraboni.banerjee@wipro.com

Jim Cameron
Ruder Finn
wipro@ruderfinn.com 

Forward-looking and Cautionary Statements
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property, and general economic conditions affecting our business and industry. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf. 

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SOURCE Wipro Limited


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